Special Reports

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The growing proportion of young people in Iran and their diverse tastes when it comes to cars has resulted in a booming automobile industry in the country. This has caused an upsurge in all related industries also, particularly for the tire industry. The tire industry has responded to this upward trend in the market with more investments for enhancing the technical and performance aspects, so that they can stay up-to-date in a highly competitive market.

The automotive industry trade in Jebel Ali Free Zone (Jafza), the UAE’s flagship free zone, has achieved a staggering four-fold growth in the last decade, escalating from USD 1.1 billion in 2004 to USD 4.7 billion in 2013.

This information was revealed on the third week of September 2014 by Talal Al Hashimi, Chief Operating Officer of Economic Zones World (EZW), at the EZW Customer Forum for the automotive sector – a series of industry events commenced by Jafza to gather key players, Jafza management and stakeholders to deal with issues and have a constructive discussion on how to join forces to improve combined competitiveness by taking advantage of the budding opportunities in the region and tackling industry challenges in an effective and efficient manner.

Tire sales were dull in the second half for the European tire market, with sales of winter tires dipping due to a warm winter. Despite that, the outlook for 2015 appears to be bright with positive 2014 sales figures when the sales for the full year are considered.